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Q1 Earnings: Hindalco’s Profit Doubles

The profit of Hindalco Industries Ltd. more than doubled in the first quarter.

The country’s largest aluminium producer by market value reported a net profit of Rs 734 crore during the three months ended June, a jump of 102 percent from the year-ago period, according to its stock exchange filing.

Revenue of the base metals company rose 2 percent year-on-year to Rs 10,670 crore. The earnings include numbers from its Utkal Alumina unit. The revenue of the aluminium business rose to Rs 5,667 crore, while it fell to Rs 5,006 crore for the copper segment.

Operating income, or earnings before interest, tax, depreciation and amortisation, rose 17 percent on a yearly basis to Rs 1,951 crore. The operating margin expanded to 18.3 percent from 15.9 percent a year ago.

Shares of Hindalco snapped a five-day winning streak and fell as much as 2.6 percent after the results were announced.